Medi-Clinic unveils R1.1bn BEE deal

October 5, 2005

Hospital group Medi-Clinic on Monday announced a black economic empowerment transaction valued at R1.1-billion in which it plans to sell a 15 percent equity stake to strategic black empowerment partners (with 11 percent) and participating Medi-Clinic staff (four percent), based on a share price of 18.40 rand per Medi-Clinic share. ..

The company also unveiled a capital restructuring which will see the group distribute a special dividend of 4.02 rand per share, amounting to R1.6-billion.

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